Gazprom’s Exports to Europe to Plummet, New Pipeline to China Faces Challenges: 5 Things to Start Your Day
Greetings readers,
Today, we are diving into the latest developments surrounding Gazprom’s exports to Europe and the impact of Vladimir Putin’s decision to invade Ukraine on these exports. According to a recent report, Gazprom’s exports to Europe are expected to average only a third of pre-invasion levels by 2035. This significant decrease in exports is a direct result of the geopolitical tensions in the region.
Additionally, the report also highlights that a new pipeline to China will have less capacity and command lower prices compared to Europe. This shift in focus towards China reflects the changing dynamics of the global energy market and the need for diversification in export destinations.
In other news, here are 5 things to kickstart your day:
1) George Osborne’s support of Standard Chartered is questioned after allegations of Hamas financing.
2) The fate of ‘Britain’s Bill Gates’, Mike Lynch, hangs in the balance as a jury deliberates.
3) Airbus unveils a stealth combat drone to support fighter jets in reconnaissance missions.
4) Tesco launches an Amazon rival, expanding its digital marketplace with a wide range of products.
5) Labour risks breaking debt rules with a net zero borrowing binge, warns the IFS.
Overnight, Asian stocks saw a mixed performance as concerns about a cooling US economy persisted. Despite a softening US labor market, bets of a Federal Reserve interest rate cut in September provided some support to the markets. Indian markets remained in focus following the recent election results.
US stocks rebounded from an early slump on Tuesday, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all closing higher. The bond market also saw a decrease in the yield on the 10-year Treasury.
Stay tuned for more updates on these developments and their impact on the global economy. Thank you for joining me on this journey of exploration and discovery.
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